Decades of low inflation led to widespread use of dollar-denominated financial instruments with fixed interest rates and long maturities.…
Written for a PIIE conference on the 50th anniversary of floating exchange rates, this paper deals with possible alternatives to a unipolar…
vlog's Linda Bilmes analyzes the debt ceiling showdown, the deal the two sides reached, the historical cause for Washington’s budgeting…
This paper shows that China's lending boom to developing country sovereigns has largely ended and that debt distress and defaults are…
Springtime in Washington D.C. brings out the cherry blossoms and a surge of tourists — along with the recurring game of chicken over the…
The global economy has witnessed great economic volatility in the first two decades of the 21st century. Yet over this period, and in…
This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress. It builds the…
The authors emphasize that the world urgently requires trillions of dollars to invest in climate action and biodiversity protection to keep…
This paper develops a new econometric framework to estimate and classify exchange rate regimes. They are classified into four distinct…
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Private schools provide affordable education in low-income countries. Yet, they often face higher closure rates, leading to disruption for…